Beiersdorf - It seems like the impulse cycle finished since major low in March-20. Now it is forming correction and mostly it should be flat correction ABC, where B wave is as abc zigzag under progress and go higher before it turning down again. The possible trading range would be 106-98 for next 2-3 week time.
Happy New Year
By Sun Storm Investment Research
A Profit & Solutions Strategy
Disclaimer: I am not a financial advisor, so please do your own research before trading anything
This is my analysis of Beiersdorf, considering the day chart. The stock is still far from the pre-COVID ATH. Right now the situation is very uncertain. The breakout chances are there, the channel is easily determinable. Still I am uncertain about what direction it is going to go, but I think the pattern as it is can't continue forever.
Hello everyone,
A good opportunity has been detected on the BEIERSDORF stock.
After strong upward movement on the BEIERSDORF, the price
found resistance on a strong resistance point, pulled back and is
currently correcting to the downside.
We are expecting the price to reach approximately the 98.000
price level, where we have a 61.8% Fibonacci retracement...
Beiersdorf AG (BEI - Xetra) has completed WXY correction within 4 hr time frame in double zigzag, thereafter it made a sharp declining wave A.
Wait for B wave correction to over as abc pattern either zigzag or flat to get entry for sell in wave C.
Wait for confirmation before entry. It is under-performer to DAX index which will be added benefit for sell trade set up.
Down sloping median line
Up sloping 2.0 warning line
Long term trendline
Old gap level
Bullish bat
1.272 ABCD
Several other fibs (not shown)
All coming together at one precise level in time and price! I don't think the market will move down fast enough to reach it in time, but you never know.
DAX is in the area of a big two tier channel / fork bottom....
